What Happened?

Shares of e-commerce and gaming company Sea (NYSE: SE) jumped 3.9% in the morning session after the company's board of directors authorized a $1 billion share repurchase program, its first ever, and Phillip Securities upgraded the stock's rating. 

The buyback plan, which allows the company to repurchase its American depositary shares, was described as a demonstration of confidence in its long-term prospects. Such programs can enhance shareholder value by reducing the number of outstanding shares. Adding to the positive sentiment, Phillip Securities raised its rating on the stock from 'Neutral' to 'Buy.' The firm noted an improved growth outlook across all of Sea's business segments and increased its revenue forecasts for the company for fiscal years 2025 and 2026.

After the initial pop the shares cooled down to $147.31, up 4.6% from previous close.

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What Is The Market Telling Us

Sea’s shares are somewhat volatile and have had 14 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The previous big move we wrote about was 5 days ago when the stock gained 2.2% on the news that Deutsche Bank upgraded the stock from 'Hold' to 'Buy', and the company posted strong third-quarter financial results. 

The bank also raised its price target on the shares to $170. The positive sentiment was supported by Sea's latest financial report, which showed a 38.3% year-on-year increase in total revenue, reaching $6.0 billion. The company also saw a significant 144.6% rise in net income to $375 million. Further boosting the results, its e-commerce platform, Shopee, delivered strong gross merchandise value growth of 28% compared to the previous year.

Sea is up 40.5% since the beginning of the year, but at $147.31 per share, it is still trading 25% below its 52-week high of $196.50 from September 2025. Investors who bought $1,000 worth of Sea’s shares 5 years ago would now be looking at an investment worth $863.39.

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